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MarketScreener Homepage  >  Indexes  >  World  >  SENSEX 30       XC0009698199

SENSEX 30

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Sensex, Nifty hit record closing highs on vaccine hopes, signs of economic recovery

12/01/2020 | 05:32am EST
A broker trades on his computer terminal at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian shares hit record closing highs on Tuesday following their best monthly gain since April, after data showed a smaller-than-expected contraction in Asia's third-largest economy and as hopes for a COVID-19 vaccine boosted bets for a quicker economic recovery.

Breakthroughs in developments for a vaccine had driven markets across the world sharply higher in November, with India's main stock indexes too climbing over 11% each on the back of record inflows from foreign institutional investors.

The domestic market extended gains on Tuesday after data released late Friday showed India's economy contracted by 7.5% in the September quarter, versus an 8.8% contraction expected in a Reuters poll, amid signs of a pick-up in manufacturing.

The Nifty 50 index closed up 1.08% at 13,109.05, while the benchmark Sensex climbed 1.15% to 44,655.44. Indian markets were closed on Monday for a holiday.

Investors looked past a survey released earlier in the day showing India's manufacturing recovery faltered in November as virus fears weighed on demand and output.

In Mumbai, heavyweight IT firm Infosys Ltd was the biggest boost to the indexes, rising 3.4%. Large private-sector lender ICICI Bank Ltd jumped 2.5%.

The Nifty Auto Index ended 1.1% higher after a handful of automakers reported monthly sales figures. Bajaj Auto Ltd advanced 2.2% after reporting a near 5% rise in sales for November.

The Nifty PSU Banking Index, which tracks state-run lenders, was among the best performers, closing 2.9% higher at its best level since late August.

India's most valuable company Reliance Industries Ltd rose 1.3%.

European peers also made a positive start to the month following a record-breaking November and U.S. futures were higher after a drop on Monday, while MSCI's broadest index of Asia-Pacific shares outside Japan climbed after robust China data.

(Reporting by Chris Thomas in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ AUTO 10.43% 4089.5 Delayed Quote.7.53%
ICICI BANK LIMITED -3.42% 533.8 Delayed Quote.3.30%
INFOSYS LIMITED 0.09% 1340.85 Delayed Quote.6.68%
RELIANCE INDUSTRIES LTD -2.37% 2049.6 Delayed Quote.5.75%
SENSEX 30 -1.50% 48878.54 Real-time Quote.4.27%
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Chart SENSEX 30
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SENSEX 30 Technical Analysis Chart | XC0009698199 | MarketScreener
Technical analysis trends SENSEX 30
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Top / Flop SENSEX 30
BAJAJ AUTO 4089.5 Delayed Quote.10.43%
HERO MOTOCORP LTD 3374.9 Delayed Quote.3.93%
TATA MOTORS LIMITED 113.55 Delayed Quote.3.04%
HINDUSTAN UNILEVER LIMITED 2409.35 Delayed Quote.1.76%
TATA CONSULTANCY SERVICES 3303.1 Delayed Quote.0.89%
ICICI BANK LIMITED 533.8 Delayed Quote.-3.42%
INDUSLND BANK LIMITED 893.3 Delayed Quote.-3.52%
STATE BANK OF INDIA 283.7 Delayed Quote.-3.78%
ASIAN PAINTS 2596.65 Delayed Quote.-4.41%
AXIS BANK 644.5 Delayed Quote.-4.64%
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